Kraken Becomes First Crypto Company to Secure Federal Reserve Master Account
- Centralized Exchange
- Regulation
Kraken Financial, the Wyoming-chartered banking unit of crypto exchange Kraken, became the first cryptocurrency company to secure approval for a Federal Reserve "master account" on March 4, 2026, according to the Wall Street Journal. The approval from the Federal Reserve Bank of Kansas City gives Kraken direct access to the Fed's core payment systems—the same infrastructure used by traditional banks and credit unions. This historic milestone allows Kraken to speed up deposits and withdrawals for large traders and institutional clients, marking a major regulatory breakthrough for crypto integration with traditional finance.